Primerica Review – Legit Network Marketing Company in 2018 Or Scam?

Welcome to my Primerica Review!

This company has been out for a while, but I haven’t came around to do a proper review on it.

Well, the time has come…

Chances are someone approached you about the business opportunity or products and now you landed here to make sure it’s legit right?

The good news is that I am going to walk you through everything so you can make the right decision.

What really stood out with Primerica was the fact it is selling life insurance plans instead of the typical skincare or home jewelry route like most network marketing companies.

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Alright let’s dive into this Primerica review shall we?

Primerica Company Review

Primerica review

Primerica first launched back in 1977 and went public on the NASDAQ in 1983, but in 2010 they split off from their parent company called Citigroup.

As of right now, they are headquartered in Duluth, Georgia. (1)

When I read Forbes, Primerica’s founder A.L Williams first started his life insurance career when his father died because that particular life insurance plan ended up being useless.

He was pretty much pissed off on the fact there were just poor options for life insurance and lack of knowledge those options among the masses.

Back in the 1970’s, companies were just pushing expensive life insurance policies on Americans who didn’t know much about them.

This is why Primerica was born…

Pretty fast, they became the biggest seller of life insurance in the U.S and transformed the industry. (2)

In 2013, they hit $1.27 billion and their total equity is $1.34 billion. (3)(4)

Plus they have crazy profit margins at 14% which is 3 times higher than the average in this industry. (5)

Even today they are leading the way and doing a great job.

Next let’s look into some of the products inside of this Primerica review…

Primerica Products

primerica products

Primerica life insurance and financial services include the following:

  • Term Life Insurance
  • Mutual Funds
  • Segregated Funds
  • Annuities
  • Manages Accounts
  • Long Term Care Insurance
  • Legal Services
  • Auto Insurance
  • Homeowners Insurance
  • Credit Monitoring
  • Debt Management Plans

I won’t go crazy with the actual details here, but as you can tell they have a pretty goo dline up.

Their more popular product is the Term Life Insurance.

This is pretty much like their flagship product and their term life insurance plans are affordable.

In 2015 alone, they paid out $1.2 billion in death claims and 92% of their claims were paid within 14 days. (6)

Usually the biggest issue with people with life insurance companies is the fact they find ways not paying after your loved one dies.

So because Primerica pays their claims on time, this is why they are one of the best.

Only draw back I would say is they use the network marketing business model.

Now nothing wrong with this, but for life insurance purposes they have a high turnover rate.

Normally agents work with their clients for years, but because Primerica is using network marketing, most of their agents quit after 6 months.

Another company that share some of these products is called World Financial Group.

Primerica Compensation Plan

When you want to get started with Primerica, it will run you $99 to get started which is pretty much the standard even compared to newer MLM’s (see:  Monat, Pruvit, Rodan + Fields)

Unlike those network marketing companies, there isn’t a physical product you are selling, but the fee does pay for the state insurance and financial services exams that you may need to take as well as your license to sell life insurance.

They also have an optional online tools that will cost you $28 per month.

At the start, you can earn 25% commissions on all financial services and sales and the good thing about this is it’s recurring month after month (as long as they don’t cancel).

Your commissions can jump up to 70% if you advance your rank and you can also get a 10% overrides on your personally sponsored members.

I found an informative video on YouTube on the Primerica compensation plan that you can check out for more details

Primerica Compensation Plan Video

All in all, the compensation plan is strong but remember you have to take this seriously.

A lot of people fail because they treat this like a hobby and not an actual business.

The income potential is higher than any job, but because people don’t take real action, the average rep makes $5,000 annually. (7)

Which is way lower than the average salary a traditional life insurance company would pay (State Farm pays around $54,000 per year). (8)

Why Some Negative Primerica Reviews?

There is a few reasons why you will see some negative Primerica reviews out there.

One example is a blogger is selling their own opportunity and calls everything a scam to get you in (bait and switch).

Two, maybe someone who was part of Primerica didn’t get the results they wanted and called it scam.

Not really a fair assessment if you ask me.

A lot of people are having success with this company or they wouldn’t be here right now.

Plus, I have nothing against people selling their own deal, but don’t call things a scam when they are not.

Call it how it is…

For me, sure I have my own recommendations, but I don’t bash a company to convince people.

If something is 100% legit, I will call it legit.

Anyway, back to this Primerica review…

Verdict On Primerica

After taking a look at Primerica, I can safely say it’s NOT a scam.

It’s 100% legit and has been going strong since the last 70’s which is always a good thing.

Plus their products/services are very competitive to the general marketplace which makes your job selling a lot easier.

Only tip I can give you is get your life insurance license (or any other things you need to sell life insurance) and actually take it seriously.

If you don’t treat it like a business, it won’t pay you like one (hence why people only average $5,000 per year).

The people who do treat it like a business crush it.

So think about that for a moment 🙂

Anyway, if you are interested in this company I say go check it out for yourself and see how you like it.

Overall I rate this company the following:  

I hope you enjoyed my Primerica review and if you have any questions, feel free to ask below.

My personal recommendation…

I have been in the network marketing field for a few years and have made well over 7 figure in this industry so I know what to look for when you join a company…

Anyway, after reviewing hundreds of companies and systems out there…

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primerica

-Jesse Singh

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